Topic: Buy the DIP, and HODL! - page 440. (Read 123271 times)

It was just a suggestion but it's to each their own on how much they're comfortable to invest in a week or in a flexible time that they want to buy Bitcoin. But that's true, it's a real situation that there could even be countries that have people earning that amount in a month.

Well, this is the market and it doesn't forces anybody to invest an exact amount. As long as you get to be flexible with that amount and it's not a pain to you, that's all what matters.

That's understandable bro and that's why those that are invested on Bitcoin and gets to hold it are really blessed. DCA, or any method that's relieving to you, do it and the point in all of this is to hold.

We all make mistakes and put trust in things, in which we should not. I was not aware of the sim swap attack (basically from the term) but it really is scary, that someone could steal your phone number, but I am curious how a scammer would do that because to do that, a scammer would need some basic information. For example, In our country, when we have to change the number of one sim to another sim or to another number, it is compulsory for the real owner of the sim to be present at the franchise, (we cannot do that from home) and there we have to verify our fingerprints and then we are given the new sim with the same or new number (that depends on our need). I don't know how things work on your side, but I would love to know.

I did search about SIM swap attacks and how we can avoid them, what I found is:

• Use of multi-signature wallet
• hardware wallet
• not making accounts on phone numbers

And talking about other attacks, like hacking attempts i.e., phishing links etc, that's what you are talking about?

You are damn right, we take risk, and we don't even have idea that we are taking one, the best example I am seeing in current time is, many new investors of BTC, are investing in BTC and saying that they will make profit for sure as they think halving is coming and their funds will be doubled or tripled. But what I think is, they are ignoring the risk factor it has. Market's history is so obvious that, anyone would be convinced that market will go up but nobody sees at the risk side. I think they should realize it before it is too late for them.


You are talking about diversification, and I agree with you on this, I have read about diversification strategy to minimize the risk in making investments and also aware of its perks. I sometimes, think, a person who is in BTC, might not have enough funds to make investments in other types, but what solution I have is, to keep that extra amount in cash, because, like you said those who will have all of their capital and savings in BTC, have to face devastation. So, a person should know the difference between capital and savings and they should at least keep their savings in the form of fiat. What do you think? 

Agreed.

Agreed, because many people do wait and totally depends on the investments, they have made in BTC like they think they would become millionaire overnight. The reality is a man has to push harder and break the limits he has set for himself. In simple words, we should not remain in our comfort zone, and should take risks and not depend on that risk only but we should work on other opportunities. Really mate you have an entrepreneurial mindset, like those financial motivators on TikTok (I hope you won't mind TikTok as many people hate when someone compares them with TikTok stars) or on any social media platform. Trying hard to motivate new generations.

But there is one more side of this, for example, a person is losing shit, have enough money to feed himself and the family, or whatever other basic needs he has to fill, after that, if that person not able to safe funds or able to safe funds, one thing came up to his/her mind. And that is skepticism, they just don't want to take risk and want to leave that circle that they draw around themselves. I hope you are getting my point here. And this happens due to the doubt, ambiguity and fear in their minds and hearts, they know they might not bear the risk's results.


So, I think that it is better to error on the side of getting started bitcoin sooner rather than later, even if you have various messes in your life that you simultaneously having to actively work upon.

nah, that's actually not that much work for me to read your posts, instead it is kind of good, and while reading and writing to you, I don't keep track of time, and once I finished writing to you then I think, I spend this much time (just to clarify, I actually not spend that much time like hours). Like, now, I am still replying late, but this time the reason was work, and the tiredness of work. But today I was free so I thought I should reply you, it's not that I was not making posts, I was, but to read your replies, I have to be on laptop, because on laptop, it becomes easy to edit the reply. 

Two things is involved for investment, either you lose or you gain, losing is totally the one you are emphasising that will put you into trouble why gaining will make you to think investment is all about luck and it's based on priority, I don't have much to say in investment of cryptocurrencies and for it's bitcoin because investment in bitcoin is like someone who is in five story building upstairs trying it's luck of jumping out from upstairs of five story building to pick so billion dollars, so making such decisions of jumping from high magnitude,

either you jump out and meet up your target or you jump out and couldn't survive.. that illustrations is how bitcoin investment is all about mostly with cryptocurrencies and bitcoin and altcoins precisely, you can't give it seventy five percent (75%)  assurance of making profit in your one turn of bitcoin investment..but new investors think that investment in bitcoin is a financial liberty and financial freedom not knowing that two things get involved in bitcoin investment


You know it takes people much time to understand the difference between gambling and investment, and even trading, some mindset goes that gambling is trading and it take most of them time to differentiate them. From the looks of things when you gamble it's on risk and when you invest its also on risk, but the difference between both is that for investment you have hope that it can hit your target because you can examine a investment or study it before investing, and their is every possibilities that your studies may come to pass in cryptocurrency studying and investment..why in gambling their is no parameter or skill you can use to study gambling immediately to know if you are wining or not, and the capital use in playing gamble can varnish at any point in time without you knowing or withdrawing the back to you when you notice  such, but in investment you withdraw your funds when you think the investment is going against your expectations.

So as you narrated that investment is like planting a tree and expecting that it will germinate and bear fruits in feature durable time if its well nocturned or monitored,  but gambling have no examining factor so its a game of luck, from my principle gambling shouldn't be in comparison with investment.

have Funds in bitcoin (that can completely risk) and have funds for daily needs and for emergency as well , never to combined your for use money to for investing.
People who lose in their investing are those people that wanted an easy money when they don't fully understand how risky crypto investing is.
back in the day , I tend to believe that Investing in crypo is like gambling but not when i started to understand like how you explained here .
that this is like fruit bearing trees vs Luck .

Certainly, it would be unwise decision, as suggested by @Jay to invest money in Bitcoin (highly volatile and risky asset) that is meant for essential expenses. It can indeed lead to financial trouble. Therefore, the key takeaway is to prioritize financial stability and have well thought out investment plan that doesn't jeopardize immediate needs.

Understanding the distinction between investing and gambling is vital. Investing is like planting a tree and waiting for it to bear fruit, while gambling is like taking chance for quick wins, relying on luck rather than a long-term strategy.

@Jay you have really impacted a lot of knowledge on me which has been helping me on my Bitcoin journey I could remember when I came here with a less knowledge about strategies of accumulation using DCA, with this tread I was able understand and add the knowledge I have gathered from here to my existing ones which has been very helpful.

Referring back to your comments, of course is very unwise to uses the money that's meant for other expenses to invest because he is likely going to get into trouble later on because when the need will arise he will be left with no option but to sell off the investment. Perhaps this could be referred as an ignorant investor whom sees a possibility of getting into trouble if taking a certain decision but still went ahead.

$10 per week is the weekly income of some people in some parts of the world. In my country, if you earn $10 per week, you’re richer than the person that earns and get paid with the country’s minimum wage price. In a situation where you earn $10 per week, you won’t feel the need to get any investment in bitcoin even when you know the benefits of investing in it. $10 per week won’t be enough to cater for your needs within a week without managing those funds, you’ll go broke before the end of the week when you lavish the money anyhow.

There are so many people that really want to make this investment but they don’t have the capital to start with, they don’t even have a means of earning extra money that can be invested in bitcoin because of the country’s hardship that do not provide room for that. DCA method remains the best method to use when you can’t buy the DIP and hold, but that is not still achievable for the average man living in a country where they feed from hand to mouth.

I like your analogy, and even without bitcoin increasing in volume over the coming years, which we all know that it will, the purchasing power of that $2,000 that one has at hand is definitely going to reduce; it's not what $2,000 was able to purchase in the past 5 years that it can still purchase today. Inflation is gradually increasing the cost of living, and the value of local currency can never be the same, so if we don't want to use the price of bitcoin as an example in terms of the amount to be purchased, one should also consider purchasing power and look at bitcoin as a means of taking a reasoning-saving step, as it will help you escape inflation a little bit.
 
And when we want to talk about the price difference, you might be surprised at what the value of bitcoin, which $2,000 can give you today, will turn out to be in the next $7,000; it's absolutely going to make history, and anyone who takes the bold step of purchasing it now will never regret it. That's if the person can hold it down for long and doesn't sell out of panic.

Good planning is to keep buying and holding over the long term. Every change in market conditions can be used as a target to continue accumulating Bitcoin because the market will not continue to be in a bearish condition. When you make a decision, the purchase is a permanent choice that you have made. Long-term planning will be quite good, especially if you accumulate BTC at a falling price, of course that moment is very valuable for you when you see BTC reach a new ATH.

In every plan for long-term investment, you can apply several interesting points about patterns that you have studied previously, such as DCA, which you should apply in long-term investment. Patience must exist within us, especially in long-term investments, of course you must have a higher level of patience before you reach the target in the investment you make.

Anyone who uses money that they need for their expenses to "invest" in bitcoin is not investing. 

Instead they are gambling.

So one of the most important things to contrast investing from gambling is to make sure that you do not need the money that you are putting in for a significant period of time.  Surely I have been recommending 4-10 years or more, but there could be ways to have tighter (shorter) timelines, and still not be gambling because you don't need the money for a significant amount of time that you calculate with some intention, especially if you are starting to use less than 4 year timelines...

If your timeline in shorter, and you are feeling a need to get price exposure to bitcoin in shorter than 4 year timelines, then you likely should be taking smaller (rather than bigger) positions when you go down such a shorter timeline path.

I think that a lot of people should be able to put away $10 per week (or even $100 per week) for years and years and years without really worrying about it - however, some people are still pretty damned poor and they might have to stop their DCA after a year or two, even if their exposure might not seem very large to the rest of us.. for example, a person investing $10 per week would ONLY have $520 invested after 1 year and $1,040 invested after two years,

yet that might be enough of an investment that they might feel that they cannot justify putting more money into BTC.. or maybe they just change their strategy to stop DCA'ing or to cut their DCA to a lower number or to replace or supplement DCA with buying on dips... so there can be quite a few ways to make adjustments to your BTC investment approach, even partially based on having have had built a decently sized position that gives more options but does not necessarily mean that there is a need to go from accumulation phase and straight to liquidation phase without first passing through a kind of maintenance stage.. Each person has to make these kinds of decisions about various transitions and even about how to move from one to another kind of phase with increments and without necessarily feeling that extreme changes need to be taken.

It is true that since the beginning of this topic until now, to be honest, I have also gained a lot of knowledge, especially in terms of bitcoin and various other ways that are more reasonable and very easy. For DCA itself I admit that indeed this is a very simple strategy but it is very suitable especially for those who are beginners, not at all complicated and maybe they only need basic knowledge of what DCA itself means. And well even though there may already be a method that can really help this but the problem is still not over, there must be some factors that can cause us to fail or maybe be late in the accumulation of bitcoin. I agree with you, basically the situation and conditions will not be completely in favor or may not always support us in investing bitcoin, especially in terms of finance or someone's finances that are not good or possible. Of course some problems in real life can occur and adjustments become the initial solution, try to keep everything running in balance between basic needs and bitcoin accumulation.

But honestly it goes back to yourself or themselves, if indeed your finances are not good - fine then maybe you don't need to force to accumulate bitcoin because there is absolutely no compulsion for us to invest, whenever you are ready then you can start, the most important thing is not to sacrifice your life needs such as costs for basic needs and then allocated to bitcoin, your life is more important than anything, and well if you still have a way to be able to improve the situation like that then do it. Start saving from now on and use that money for bitcoin allocations, none other than that also to realize all your dreams in the future, just need to be consistent and patient.

Your comment completely agrees with Bitcoin dominance history which as can be seen shows Bitcoin dominated from inception until 2017 that is regarded as the birth of altcoins that say Bitcoin dominance dropped to 41%. As expected, from 2017 onward, there have really been a serious back and forth swing on Bitcoin dominance and this can be explained by some people making so much profits from altcoins at some point and others also loosing to altcoins too... a pure case of proliferation of altcoins.

One interesting thing to note is that from 2021 it got saturated after which the odd started tilting towards Bitcoin. Probably people started waking up to reality that Bitcoin is the real deal as many of the shitcoins that promised heaven and earth in terms of used case, scalability and all manners of congestures failed to deliver. Even founders of these the shitcoins would have converted significant portion of their holding to Bitcoin and this explains the steady rise of Bitcoin dominance. 

As of today, Bitcoin is dominating approximately 50% of the market in a market where we have over three thousands altcoins.  This is a pure indication that people are rapidly adopting Bitcoin.

Yes, that's what I know, Bitcoin has always experienced a high increase even though there are times when it has decreased due to several factors affecting the market, but compared to shitcoin, bitcoin is more likely to be promising with a bullish phase that can always dominate in recent years, just look at how the fate of investors who absolutely do not miss any opportunity related to opportunities in bitcoin. They managed to achieve sufficient or even significant profits.

Once again, investing in bitcoin will certainly bring its own benefits but of course with patience that must be owned because investing in bitcoin takes a long time, often I see people who invest for a long time but they stop halfway because of the lack of patience will wait a long time.

Source
Bitcoin is becoming so popular day by day that people of the world are choosing Bitcoin as their life security due to the popularity of Bitcoin. Every month the biggest holders of bitcoins are putting more than 50 thousand bitcoins to hold for long term. Statistics show that more than 76% (14.859M) of Bitcoins are currently under holders and they are holding it in wallets for long term storage. Then we can conclude that Bitcoin is one of the important assets in our life and its popularity will increase so much that the one who has the most Bitcoins in the next life will be recognized as rich and prosperous.

There is no way I can compare shitcoin to Bitcoin, I gave a reason why people buy Bitcoin and hodl it for a very long term. With bitcoin, we can transfer value anywhere in a very easy way, there is nothing like Bitcoin in the crypto space.

Sooner you will completely understand that there is no way that Shitcoin can be comparable to Bitcoin , most specially in what you called HODL.

How can you trust a coin that may die in a year span or even shorter?  while In bitcoin you can se the action for more than 13 years.
and no way that I will choose altcoin over bitcoin , the term HODL only related to one coin and that is Bitcoin .
when you called dropping 90% that is not a drop but for me that is considered as dead .

Investors whom there major aim is to accumulate for long time holding shouldn't be influenced by the price of Bitcoin by knowing if actually the price will dip more or increase the more, is obvious that the goals of every investors is to make a good profits in the future but however since the plan is for long time holding I see no reason why investors should consider the current price of Bitcoin before accumulating.

That's why DCA method is there to guide investors, that it doesn't matter how far Bitcoin price has gone but what matters is how you could be able to accumulate consistently with the little funds you could afford as well as risk management, perhaps with this we shouldn't be bothered about knowing if the price will drop to the bottom or not but instead we sees every price as an opportunity to keep accumulating.

While, Your  perspective on Bitcoin's potential to outperform in the long term and its resilience to short term volatility, due to geopolitical situation in the Middle East price volatility is well understandable. However,  it is worth noting that, if the current geopolitical tensions persist, similar to what occurred in Ukraine/Russia conflict. It could have adverse affects on all risky assets markets. Consequently, there is a concern that we might see a an extended bear market, lasting for longer duration.

In simple terms, even when the market looks unfavorable, the long term investors should remain vigilant for opportunities to accumulate Bitcoin at lower prices.

Indeed. It is an established coin and trusted by majority of investors who are not eager to profit in a short period, it takes time but we know it's worth it. On the other side, many investors are afraid to buy during dip because of further price decrease. We can't pin point the real bottom so the best deal here is, if you can afford the price (since it's way cheaper compared to ath), go and fill your bags. Anything can happen which means the price can rise unexpectedly.

Therefore if we don't want to miss the chance then think what you can do to take advantage the situation. Anyhow regardless of how you accumulate (DCA or buy the dip), what matter is you understand what you're doing and firm on your decision about Bitcoin.

One such strategy can be done using the DCA strategy in Bitcoin investing. Because you can invest any amount of money at any time, they will surely accumulate a large amount of wealth if they accumulate small amounts of investment over a long period of time. People who ignore the DCA strategy and invest (if old investments) will regret it because they invest and hold for life. So you can rest assured that the DCA strategy is one of the reasons why investments are used in such schemes and that investment will not be shifted outside the DCA strategy. And investing without DCA strategy must be exposed to risk (DCA strategy minimizes risk) and the investor can realize something good from this.